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          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

          Provisions expressly mentioned in the judgment/order text.

          <h1>Construction contract accounting: use percentage of completion recognition; expected losses recognised immediately and detailed disclosures required.</h1> The Standard prescribes allocation of contract revenue and costs to periods in which construction work is performed, distinguishes fixed price and cost plus contracts, and sets recognition criteria. When outcomes can be estimated reliably, revenue and costs are recognised by reference to the stage of completion (the percentage of completion method) and expected losses recognised immediately; otherwise revenue is limited to recoverable costs and costs expensed as incurred. Appendix A treats service concession arrangements: infrastructure under grantor control is not operator property, and consideration for construction may be a financial asset or an intangible licence, measured under applicable Ind ASs.

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